Blend Labs Inc (NYSE:BLND) saw a downside of -1.68% to close Friday at $1.17 after subtracting -$0.02 on the day. The 5-day average trading volume is 723,520 shares of the company’s common stock. It has gained $1.2800 in the past week and touched a new high 2 times within the past 5 days. An average of 728,165 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 882,134.
BLND’s 1-month performance is 1.74% or -$0.0300 on its low of $1.0350 reached on 08/29/23. The company’s shares have touched a 52-week low of $0.53 and high of $2.86, with the stock’s rally to the 52-week high happening on 02/06/23. YTD, BLND has lost -18.75% or -$0.2700 and has reached a new high 8 times. However, the current price is down -59.09% from the 52-week high price.
Insider Transactions
BLND stock investors last saw insider trading activity on Sep 14.Ghamsari Nima (Head of Blend) most recently sold 114,504 shares at $1.32 per share on Jul 31. This transaction cost the insider $151,214. Head of Blend, Ghamsari Nima, sold 153,531 shares at a price of $0.96 on Jun 30. Then, on May 31, Head of Blend Ghamsari Nima sold 151,316 shares at a price of $0.95 per share. This transaction amounted to $144,461.
Valuation Metrics
BLND stock has a beta of 0.52. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.61 while the price-to-book (PB) in the most recent quarter is 6.97.
Blend Labs Inc’s quick ratio for the period ended June 30 was 8.82, with the current ratio over the same period at 8.82. As well, the company’s long term debt to equity for the quarter ending June 30 was 5.51, while the total debt to equity was 5.61. In terms of profitability, the gross margin trailing 12 months is 41.84%. The trailing 12-month EBITDA margin is -113.44% while for the period ending June 30, Blend Labs Inc’s operating margin was -124.12%. The firm’s gross profit as reported stood at $89.65 million against revenue of $235.2 million.
Earnings Surprise
For the quarterly period ending June 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -1017.19% to -$42.82 million, while revenue of -$67.47 million was -57.57% off the previous quarter. Analysts expected BLND to announce -$0.13 per share in earnings in its latest quarter, but it posted -$0.09, representing a 30.80% surprise. EBITDA for the quarter stood at more than -$33.77 million. BLND stock balance sheet for the quarter ending June 30 shows that total liabilities totaled 309.23 million, with total debt at $231.7 million. Shareholders hold equity totaling $245.89 million.
Let’s look briefly at Blend Labs Inc (BLND) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 49.78% to suggest the stock is trending Neutral, with historical volatility in this time period at 34.49%.
The stock’s 5-day moving average is $1.1960, reflecting a +0.86% or $0.0100 change from its current price. BLND is currently trading +7.34% above its 20-day SMA, +90.03% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -5.65% and SMA200 by-1.68%.
Stochastic %K and %D was 52.85% and 61.49% and the average true range (ATR) pointed at 0.0774. The RSI (14) points at 49.29%, while the 14-day stochastic is at 46.34% with the period’s ATR at 0.0855. The stock’s 9-day MACD Oscillator is pointing at 0.0089 and 0.0276 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Blend Labs Inc (NYSE: BLND), Keefe Bruyette upgraded it to a Mkt perform rating. They previously had an Underperform rating on the stock. Analysts offering their rating for BLND stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate BLND as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is BLND’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.00 and a high of $2.00, with their median price target at $1.50. Looking at these predictions, the average price target given by analysts is for Blend Labs Inc (BLND) stock is $1.49.
